...Essay on Cashless Society A cashless society is a society in which cash and checks will no longer exist. A new form of funds transferal will become common such as the use of credit cards or more generally e-money. In today’s digital world, money is becoming much more a concept then a physical entity. People are using credit cards and debit cards and other kinds of electronic payments more and more everyday in order to pay for different goods & services. Still, it is part of the human nature to need a tangible mean of payment. You can count cash with your hands, you can feel it. In fact, it would be very difficult to make people trust in digital money as the only form of currency. On another hand, the cashless society has many opposants who’s biggest concern is the invasion of individual intimacy for money is untraceable, anonymous and negotiable whereas digital payments are completely the opposite, every transaction is recorded; marketing firms and governments are already using gathered information and data about internet users and people are afraid of how this information being used. However, this has some advantages such as being able to track down terrorists, drug dealers and black markets because the only mean of payment would be electronic. My last point will be about that fact that a cashless society would rely on information systems and technology. This makes digital money a sword with two edges since it is true that it facilitates transactions...
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...As you may know our society today is very adamant on using credit and debit cards or pre-paid visas. The global establishment is increasingly pushing the notion of a “cashless society” a world in which all payments and transactions are conducted electronically, creating a permanent record for governments to inspect and track at will. Multiple governments including but not limited to, Africa and Asia to Europe and the Americas are working toward that goal. Powerful global forces including the United Nations are helping as well. Although, analysts are warning that such a shift would be nightmarish for liberty and privacy. Now there are some pros to this “cashless society” which include; possible reductions in armed robbery, tax evasion, black-market commerce, the cost of printing and securing physical cash, and more. Although critics are warning of the dangerous schemes that could be unleashed in a world where out-of-control governments can monitor literally every purchase, transaction and bit of economic activity. There has yet to be a completely “cashless society” but Israel is probably the closest and will be the first. A committee chaired by Israeli Prime Minister Benjamin Netanyahu’s chief of staff has come up with a three phase plan to “all but do away with cash transactions in Israel”. Individuals and small businesses would still be allowed to conduct transactions in cash, initially at least, but the goal is to force Israeli citizens to conduct as much business as possible...
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...completely cashless society? --------------------------------------------------------------------------------------------------------------------------------- Introduction Paragraph-1: 1. Starting Point: The cashless society is yet another way to control and inhibit, rather than liberate people. 2. Thesis Statement: There are some very dark and great hidden dangers associated with cashless society which could even outweigh the pros of cashless society. 3. Briefly mention the topics you will discuss: The possible dangers could include the loss of control, human control, loss of privacy and identity theft, psychological effects, payment rejection and electronic manipulation and religious implications. --------------------------------------------------------------------------------------------------------------------------------- Body Paragraph-2: (Loss of Control) 1. Topic Sentence: First and foremost, cashless society is all about control. 2. Support: Imagine this odd situation where something unexpected and unhealthy such as a computer virus attack happens and your bank’s database gets deleted or tampered. Instantly you can go from the richest guy around to the poorest church mouse around. Now let’s take it further by assuming this computer viral attack was actually orchestrated knowingly by someone whose plan is to financially control you. 3. Details/Example: Electronic payment systems all involve the computer. Under the cashless society monetary...
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...Международная заочная научно-практическая конференция |Консалтинговая компания |Информационное письмо | |«АР-Консалт» | | |Тел.: 8 (495)799-01-40 |Приглашаем Вас принять участие в работе Международной заочной | |www.сo2b.ru |научно-практической конференции | | |(с публикацией тезисов и статей в сборнике научных трудов) | Наука, образование, общество: тенденции и перспективы 31 января 2013 г. Москва Желающие принять заочное участие в конференции (с публикацией в сборнике научных трудов) должны направить до 20 февраля 2013 г. регистрационную карту участника, копию квитанции об оплате организационного взноса, тезисы или статьи в электронном виде по электронной почте (conf@co2b.ru). Организатор Международной заочной научно-практической конференции – компания АР-Консалт, г. Москва. Издание сборника научных трудов происходит с присвоением международного индекса ISBN, УДК и ББК. Согласно Постановлению Правительства № 227 от 20 апреля...
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...in the Economy through Point of Sales terminals (PoS), web payment, mobile money and Near Field Communications (NFC) transactions. This enables the payment for goods and services via Point of Sales (PoS) without handling cash. The policy stipulates a cumulative daily limit of N150,000 for individual accounts and N1,000,000 for corporate accounts for withdrawal and deposit into a bank account. On exceeding this limit a cash handling cost of N100 for every N1000 (i.e. 10% of the excess amount) is charged. For instance: If you withdraws/deposits N1,000,000 in a day, the initial N150,000 will be processed free but you will be charge 10% handling cost for the excess N850,000, this means you will be paying N85,000 as charges. So, under the cashless policy you will be debited for N1, 085,000 if you withdraw N1, 000,000 and credited for N915, 000 if you deposit N1, 000,000. With the policy, a private/individual account can only do a maximum cumulative cash transaction of N150,000 with a service charge of N100 per additional N1,000, while a corporate account can only do a maximum cash transaction of N1 million with a charge of N200 per extra N1,000. Channels of Cash-lite transaction The Cash-lite transaction can be undertaking through the following mediums: Internet Banking/Online Banking: This enables normal...
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..."Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man. For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil." Eccl 12:13-14 (KJV) FEW WAYS TO LOVE YOUR HUSBAND 1. Discover his favorite pet name and call him by that. 2. Allow him exercise his authority as the head of the family. 3. DO not challenge him when he is hurt. 4. Be silent when he is angry. You can go back to him in his sober moment with apology n explain why you behave that way that annoyed him. 5. Be quick to say " I am sorry dear". When ever you offend him pettingly, insist on his forgiveness, appreciate and kiss him when he does. 6. Speak good of him before his Friends and siblings. 7. Honor his mother 8. Insist that he buys gift for his parents and so be sure that he will do same for your parents 9. Surprise him with his favorite dish especially when he has no enough money at hand and never delay his food. 10. Do not allow the maid to serve him food when you are at home. Because u may lose him to them. 11. Give him a warm reception with an embrace when he returns, collect his luggage and help undress him. 12. Smile when you look at him and give him occasional pecks when you are out socially. 13. Praise him before your children sometimes. 14. Wash his back while he is in the tub or shower. 15. Put love note in his lunch box or briefcase. 16. Phone and tell him that you...
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...1.4 CONS OF A CASHLESS FINANCIAL SYSTEM The aim of this section will be to take the into account the main arguments against the establishment of a cashless society and demonstrate how they are neglectable. Author, advisor and commentator on digital financial services, David Birch has classified these arguments in his book “Before Babylon, Beyond Bitcoin: From money we understand to money that understands us” (London Publishing Partnership: June 2017). They are: conservatism, demographics, seigniorage, security and privacy. 1.4.1 Conservatism It is argued that every person has an innate sense of conservatism, a risk-averse attitude towards innovations, and anchors himself to traditional value. This is what brings some persons to think there...
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...21st century, we have already entered into the era of post modernity and post industrialism. Today’s World is witnessing the unprecedented and unforeseen changes in every walk of life, thereby presenting a scenario of chaotic and bizarre changes. Changes in different sectors of society ranging from economy, society, politics, family and culture are so multi-directional that at the surface level, it becomes very difficult to decipher a meaningful and coherent picture from this jungle of changes. Sometimes this scenario leads one to perceive World as a dehumanizing society. But such despair is unwarranted, for it is so more because of its lack of proper management and proper knowledge about it. In fact the present day post-industrial civilization of the world calls for a drastic paradigm-shift and a new insight to bring out a meaningful and articulate picture of today’s World. The present paper is an effort in this direction. Most people think of a cashless society as something that is way off in the distant future. Unfortunately, that is simply not the case. The truth is that a cashless society is much closer than most people would ever dare to imagine. To a large degree, the transition to a cashless society is being done voluntarily. Today, only 7 per cent of all transactions in the United States are done with cash, and most of those transactions involve very small amounts of money. Just think about it for a moment. Where do you still use cash these days? If you buy a burger...
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...Nigerians decided to remain unbanked. However, with the introduction of cashless policy, which signaled the adoption of electronic banking, through Automated Teller Machine (ATM), Point of sale (POS) and others, the Central Bank of Nigeria (CBN) intended to bring banking hall and banking services close to the people, even in the comfort of their homes. With the cashless policy, there were expectations of improved security, as it was intended to discourage movement of cash, and reduce traffic at the banking halls. The policy has however not met these expectations, as queues refused to disappear. Some customers complained that the policy has limited their cash transactions, no matter the type of electronic transaction they use. But competition in Nigerian banking sector has become intense, partly due to regulatory imperatives of universal banking and also due to customers’ awareness of their rights. Bank customers have become increasingly demanding; they require high quality, low priced, immediate service delivery and improved value from their chosen banks. And in the face of all these complaints, some continue to shy away from all forms of electronic banking, like ATM, that are devoid of queue. Findings show that queues have returned in banks where facilities are limited and cannot meet up with demand. Not too many bank customers can withstand the queues, yet they are reluctant to fully embrace the cashless policy. CASHLESS NIGERIA The Central Bank of Nigeria (CBN) under the leadership...
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...are quickly becoming items that people no longer carry as their primary instrument of payment and businesses would rather not accept. We all want a quantifiable measurement for what our wealth is but don’t really care if it is in actually hard currency or just expressed in the zeros and ones in the digital world. Call the money a Dollar, Euro, Pound, Deutschmark or any other name you want as long as we know, on paper, we have an amount of them is all we care about. Why have currency and checks become less and less important as a form of payment when they were once responsible for 100 percent of all payments? The answer is the rise of the credit/debit card and the advancement of technology. Some countries are more ahead in adoption of cashless options. Examples are Sweden, where physical currency makes up just 3 percent of the nation’s total supply (Newman) and our neighbor to the north, Canada, which is experimenting with ways to get rid of currency...
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...Information Technology Acts Paper BIS/220 October 31, 2012 Aaron R. Cuevas Information Technology Acts Paper The Children’s Internet Protection Act of 2000 was to address issues raised about a minor’s access to harmful or explicit content over the Internet. This mandated that schools and libraries impose restrictions over specific subject matter. Schools that have subjected to these guidelines also must include consistent monitoring of all online activities conducted by minors. However, administering guidelines and restrictions was not enough. In 2011 the FCC issued further guidance by implanting further updates. There must also be an explanation, or rather education, provided to the minors about why such rules are in place, what appropriate online behavior is, and cyber-threat awareness and response. “Students will always have some sort of adversarial relationship with anyone that puts up a fence between what they want and what they should have access to, but with input on why sites are blocked and giving them a say in the process will help” (Anderson 2010). The advances made in the Internet being distributed throughout schools as a tool for education greatly expanded teachers, or instructors, resources. The Internet became an infinite domain of tools that could be used in the classroom setting. And it is more cost efficient than supplying the information through physical hardcopies. However, the word ‘infinite’ is what needed to be regarded as a blessing and a curse...
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...from http://ezinearticles.com/?History-of-Online-Banking&id=270075 [website] Cai, Y., Yang, Y., & Cude, B. (2008). Inconsistencies in US consumers' attitudes toward and use of electronic banking: An empirical investigation. Journal of Financial Services Marketing, 13(2), 150-163. doi:10.1057/fsm.2008.10 Cavusoglu, H. (2009). Configuration of and Interaction Between Information Security Technologies: The Case of Firewalls and Intrusion Detection Systems. Information Systems Research, 20(2), 198-217. Koch, D. (1996) The History of Money. Retrieved on November 10, 2012 from http://www.pbs.org/wgbh/nova/ancient/history-money.html Michael, G. (2012). A Cashless Society May Be Closer than Most People Would Ever Dare to Imagine. Retrieved November 10,2012 from http://theeconomiccollapseblog.com/archives/a-cashless-society-may-be-closer-than-most-people-would-ever-dare-to-imagine Retrieved November 10, 2012 from http://ehis.ebscohost.com/eds/pdfviewer/pdfviewer?sid=e24cf5ab-935c-4859-9f81-8b923eabf17e%40sessionmgr115&vid=5&hid=4 [website] Sheneier, B. (2008, September 2). Security ROI. Retrieved November10,2012 from http://www.schneier.com/blog/archives/2008/09/security_roi_1.html [website] Stair, R., Reynolds, G. (2006). Principles of Information Systems: A Managerial Approach TelosID. (2009). Handheld Authentication Software. Retrieved November 10, 2012 from http://images.telos.com/files/external/MobileAssure_Handheld_Slick.pdf...
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...Health Insurance- Blessing for people with busy life The word insurance truly mentions security. Security against life, health, family,vehicle,homes, shops,etc. In earlier years, there was no need to this kind of thing for the protection. I am talking about days of our grandfathers or may be even before that. The life was so great and slow, nothing to worry about any future, would involve in their daily occupational jobs like farming and living life in their own way. But it is said that nothing is permanent. The time has change now. Today we live in a much advance world. The change is faster than time. The daily routine got so much fix that we cant even take out some time to enjoy. People work in office as well as in home too. Social life is like getting extinct from their life. No time to eat even hygienic food on time. Just grabs some cafeteria served items and forget about its effects. As “no time” kind of thing ruling our life. We almost neglect our health and when any weird kind of stuff happens! Doctor is the second word that comes in our mind. First is the expense if the condition got severe. We can’t change this situation, neither can we escape from it. We have to work, look at our family and their future, about your dreams, and so to earn this, we have to get a job that offers salary far from your expectation but if salary is well then the work load will also be high. In fulfilling your daily task, you forget about your health! So it’s better to have an insurance...
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...AN OVERVIEW OF POLICYHOLDERS PERCEPTION TOWARDS HEALTH INSURANCE Mrs.S.Gnana Sugirtham, Lecturer, Department of Commerce, Avinashilingam Institute for Home Science and Higher Education for Women, Coimbatore – 641 043. Email ID:sugistephen@gmail.com. Introduction Over the last 50 years India has achieved a lot in terms of health improvement. But still India is way behind many fast developing countries such as China, Vietnam and Sri Lanka in health indicators (Satia et al 1999). In case of government funded health care system, the quality and access of services has always remained major concern. A very rapidly growing private health market has developed in India. This private sector bridges most of the gaps between what government offers and what people need. However, with proliferation of various health care technologies and general price rise, the cost of care has also become very expensive and unaffordable to large segment of population. The government and people have started exploring various health financing options to manage problems arising out of growing set of complexities of private sector growth, increasing cost of care and changing epidemiological pattern of diseases. The new economic policy and liberalization process followed by the Government of India since 1991 paved the way for privatization of insurance sector in the country. Health insurance, which remained highly underdeveloped and a less significant segment of the product portfolios...
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...Information Technology Act Lizette Ortiz-Ortiz BIS/220 November 13, 2012 Professor Aníbal López-Torres Information Technology Act * Electronic Funds Transfer Act of 1978 * The Electronic Funds Transfer (EFT) Act was signed by Jimmy Carter on 1978. The purpose of the creation of this act was to protect peoples and institutions money on electronic transactions. This act is part of the Credit Card Consumers Act and the ETF was not considered this act was created. “The EFT Act contains important provisions concerting entry of consumers into the EFT system, delineation of rights of parties involved in EFT use, and establishment of liability for unlawful EFT use” (Fox, 1980, p. 212). The definition for EFT in the act is “a transfer of funds is initiated through an electronic terminal, telephone, computer (including on-line banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer’s account. EFTs include, but are not limited to point-of-sale (POS) transfers; automated teller machine (ATM) transfers; direct deposits or withdrawals of funds; transfers initiated by telephone; and transfers resulting from debit card transactions, whether or not initiated through an electronic terminal” (Electronic Funds Transfer Act of 1978, Section 205.3(b)). By having EFT defined, clearly can demonstrate...
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